• Although cost control remains a key priority, this year has seen international financial institutions display stronger leasing demand for office space in key Asian financial hubs following several years of right-sizing and consolidation.
  • Western financial institutions have been particularly active in relocating to areas with comparatively better availability of new space or outside CBDs in search of lower rental costs.
  • Key trends impacting the financial industry at present include FinTech; the growth of which is transforming the sector in terms of the delivery of financial services, the medium of transactions and the approach to business analysis.
  • Banks are responding to this challenge by opening innovation labs and accelerator programmes; upskilling I.T. staff and establishing data centres and tech campuses; and optimising retail banking networks – all of which has begun to influence their real estate requirements.